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Page title (without namespace) (page_title) | 'GRAPHIC-NFT Sales Surge To 10.7 Bln In Q3 As Crypto Asset Frenzy...' |
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New page wikitext, after the edit (new_wikitext) | '<br>By Elizabeth Howcroft<br> <br>LONDON, Oct 4 (Reuters) - Sales volumes of non-fungible tokens (NFTs) surged to $10.7 billion in the third quarter of 2021, up more than eightfold from the previous quarter, according [https://www.tiktok.com/@solitaryisle "cheap house removals" "house removals to spain" "house removals to algarve and france"] data from market tracker DappRadar, as the frenzy for crypto assets reached new highs.<br> <br>NFTs use blockchain to record the ownership of digital items such as images, videos, collectibles and even land in virtual worlds.<br> <br>Surging sales and hefty prices on NFTs - items which do not physically exist - have baffled many but the explosive growth shows no sign of abating.<br> <br>The third-quarter figure was up from $1.3 billion in Q2 and $1.2 billion in Q1, DappRadar said.<br> <br>On the biggest NFT marketplace, OpenSea, sales volumes hit $3.4 billion in August.<br><br>Activity remained strong even in September when global stock markets faltered.<br> <br>Cryptocurrency price gains during the COVID-19 pandemic are often cited as a driver behind the NFT market's growth -- because people use cryptocurrencies to buy NFTs -- but enthusiasts say that the crypto assets have value independently of market conditions.<br> <br>To be sure, estimates for the size of the NFT market vary depending on what is included.<br><br>Transactions which take place "off-chain", no problems pool such as NFT art sales at auction houses, are often not captured by the data.<br> <br>DappRadar's numbers, which include multiple blockchains and "off-chain" transactions, put total 2021 sales volume at $13.2 billion. Another market tracker, CryptoSlam, shirt design which excludes "off-chain" sales, says the figure is $9.6 billion.<br> <br>Meanwhile, NonFungible.com, [http://toolbarqueries.google.com.lb/url?sa=i&url=https%3A%2F%2Fwww.tiktok.com%2F%40solitaryisle http://toolbarqueries.google.com.lb/] which tracks NFTs on the ethereum blockchain only, puts the 2021 total volume at $7 billion.<br> <br>The most expensive known NFT sale was a digital collage sold at Christie's for $69.3 million in March.<br><br>Since then, no known NFT has come close to this price, [http://eye.sandbox.google.com/url?sa=t&url=https%3A%2F%2Fwww.Tiktok.com%2F%40solitaryisle eye.sandbox.google.com] but auction houses still [https://www.thefreedictionary.com/hold%20NFT hold NFT] sales, often fetching [https://abcnews.go.com/search?searchtext=millions millions].<br> <br>However, despite growing sales and celebrities and other investors jumping on the trend, the number of NFT buyers remains relatively small: there were just 265,927 active wallets trading NFTs on the ethereum blockchain in Q3, NonFungible.com said.<br> <br>More than half of NFTs sold in Q3 were $101-$1,000, while those in the $1,001-$10,000 bracket accounted for 20% of sales, and 17% fetched less than $100, NonFungible.com said.<br> <br>One NFT brand to see particularly high growth in Q3 was Art Blocks, a U.S.-based project which sells NFTs of algorithmically-generated digital artworks.<br> <br>On Saturday, an Art Blocks NFT sold for 2,100 ether (around $6.9 million at the time).<br><br>Average Art Blocks prices have risen to roughly $15,100 per NFT in September, up from $3,300 in July, according to CryptoSlam.<br> <br>Gaming-related NFTs also surged, with the blockchain-based game Axie Infinity leading the "play-[https://www.tiktok.com/@solitaryisle "cheap house removals" "house removals to spain" "house removals to algarve and france"]-earn" sector with $776 million in Q3 revenues, [https://www.tiktok.com/@solitaryisle Https://Www.Tiktok.Com/@Solitaryisle] DappRadar said.<br> <br>(Reporting by Elizabeth Howcroft Editing by Sonya Hepinstall)<br><br><br>adverts.addToArray("pos":"inread_player")Advertisement' |
